Good Luck Recruiting: Fewer Real Estate Agents Say They're Willing to Change Brands

Rhea-AI Summary

Coldwell Banker Real Estate LLC, part of Anywhere (NYSE: HOUS), published its 2023 Agent Priority Report revealing trends in agent satisfaction. A notable finding indicates that 75% of agents are less inclined to change their brand affiliation, up from 51% in 2019. Factors driving agent loyalty include the demand for top-tier resources and customer service. The report also highlights Coldwell Banker as the most trusted brand among agents, maintaining its reputation for integrity and providing robust marketing tools. The survey comprised 1,322 agents, including Coldwell Banker affiliates and others from different MLS.

Positive

• 75% of agents will not change brand affiliation over the next two years, indicating strong loyalty.
• Coldwell Banker remains the most trusted brand among agents, reinforcing its market position.
• Agents prioritize best-in-class customer service, which Coldwell Banker successfully provides.

Negative

• None.

2023 Agent Priority Report reveals sentiments and expectations driving the state of agent satisfaction in 2023

MADISON, N.J., April 4, 2023 /PRNewswire/ -- Coldwell Banker Real Estate LLC, an Anywhere^SM (NYSE: HOUS) brand, has announced the results from its annual "Agent Priority Report," which found that the majority of agents surveyed say staying that they are staying where they are, potentially creating a new recruiting challenge for brokerages. Conducted by Quester Research, the report surveyed the Coldwell Banker-affiliated and non-affiliated agents to gauge how they are feeling about today's real estate market, their priorities and their views on the industry's leading real estate brands.  

Fewer agents say they are willing to change affiliation

Agents are sticking to their brand, with survey results showing that across brands, a significant number of respondents are less willing to change brand affiliation. In fact, compared to 51% in 2019, 75% of agents surveyed in 2023 say they will not change affiliation in the next two years.

Agents want top-of-the-line resources and experiences

• 95% of respondents agreed that best-in-class service to customers is the most important brand attribute.
• The power of brand image marketing to bolster an agent's business, more tech and tools to enhance an agent's overall experience and value proposition, and more leads are the top items agents are looking for in 2023

Coldwell Banker remains the #1 leading brand in agent trust

When asked which traits best describe companies, Coldwell Banker reigns as the most trusted, consistent with previous years' survey results. With its reputation for integrity, best in-class services, a suite of robust technology and tools to navigate the current market, and an international network of talented agents and real estate professionals to learn from, Coldwell Banker continues to invest in the success of its affiliated agents and serve as a guiding light.

QUOTES:

"Amid economic headwinds, it's no surprise agents are reticent to move. However, agents should remain open to the opportunities a more established brokerage can offer including award winning and powerful branding that is not only recognizable worldwide but is also customizable to appeal to their market area, international and domestic networking opportunities, and resources to grow their business like the Coldwell Banker Listing Concierge program, which provides white glove branded marketing for listings. A strong brokerage can help agents weather any storm.  

Real estate agents are committed to helping their clients find their dream home and expect prime resources and services from their brand. The findings in the Agent Priority Report confirm that Coldwell Banker is succeeding in providing agents with what they want most: a deep level of caring within its culture, personalized solutions including desired powerful marketing resources, full service and perhaps most important, integrity."

-  Liz Gehringer, president and CEO of Anywhere Franchise Brands, and acting president of affiliate business and COO of Coldwell Banker Real Estate

Survey Methodology

Coldwell Banker Real Estate LLC commissioned Quester Research to survey 1,322 agents between November and December of 2022 including 604 Coldwell Banker affiliated agents, 534 non-Coldwell Banker agents in various MLS' and 184 agents from Compass and eXp*.

*These results were acquired separately and not part of the national sample in order to have a material sample size.

About Coldwell Banker Real Estate LLC

Powered by its network of over 100,000 affiliated sales professionals in more than 2,700 offices across 39 countries and territories, the Coldwell Banker^® system is a leading provider of full-service residential and commercial real estate brokerage services. The Coldwell Banker brand prides itself on its history of expertise, honesty and an empowering culture of excellence since its beginnings in 1906. The Coldwell Banker brand is committed to providing its network of affiliated sales agents with the tools and insights needed to excel in today's marketplace and is known for its bold leadership and dedication to driving the industry forward. The brand was named among the 2023 Women's Choice Award^® "9 out of 10 Customer Recommended Real Estate Agency." Blue is bold and the integrity and values of the Coldwell Banker brand give the Gen Blue network an unbeatable edge. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. To join Coldwell Banker Real Estate and unlock the Gen Blue possibilities, please visit www.coldwellbanker.com/join.

Media Inquiries:
Athena Snow	Paola Bahena
Coldwell Banker Real Estate LLC	G&S for Coldwell Banker Real Estate LLC
973.407.5590	813.838.4383
athena.snow@anywhere.re	pbahena@gscommunications.com

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SOURCE Coldwell Banker Real Estate LLC

FAQ

What are the key findings of the 2023 Agent Priority Report for HOUS?

The report reveals that 75% of agents are unwilling to change their brand affiliation, a significant increase from previous years.

How does Coldwell Banker rank in terms of agent trust?

Coldwell Banker is ranked as the most trusted brand among real estate agents, according to the 2023 report.

What do agents value the most according to the 2023 report?

Agents highly value best-in-class customer service and top-tier resources, which Coldwell Banker aims to provide.

How many agents were surveyed in the 2023 Agent Priority Report?

The survey included responses from 1,322 agents, assessing their sentiments in the real estate market.